Dual-listed paper and packaging group Mondi said underlying profit for the fourth quarter of 2011 is expected to be on a par with the corresponding quarter of 2010.
This follows a third quarter in which underlying profit, at €136m, was well up year-on-year but which was down from the second quarter figure of €175m.
For the year as a whole, underlying operating profit is expected to be considerably higher than that of the comparable prior year period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Furthermore, in 2010, the group recognised a net special item charge after tax of €15m, while the equivalent special item charge for the year ended 31st December 2011 is around €53m, mainly related to asset impairment costs in Aylesford Newsprint (€33 million) and restructuring and asset impairment costs in the Bags & Coatings business.
Accordingly, Mondi advises that it expects earnings per share (EPS) for the year ended 31 December 2011 to be within the ranges shown below:
Basic EPS on a non-IFRS (international financial reporting standards) basis: €0.69 to €0.74 (2010: €0.456)
Basic EPS (combined operations): €0.64 to €69 (2010: €0.441)
Basic headline earnings per share: €0.67 to €0.72 (2010: €0.47)
jh
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
